China and Emirates Sign Landmark Agreements, as Wang Yi Dubs U.A.E. ‘Shining Pearl along Belt and Road’
July 24, 2019 (EIRNS)— The Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed al Nahyan, Deputy Supreme Commander of U.A.E. Armed Forces, is visited China from July 21-23. The visit has resulted in a number of landmark agreements expanding economic cooperation and development between the two countries. Sheikh Mohamed was on a state visit, including a review of Chinese Honor Guard troops with Chinese President Xi Jinping.
In 2018, China and the U.A.E. signed a Comprehensive Strategic Agreement.
According to NewsClick, President Xi and Sheikh Mohamed “witnessed the signing of 16 agreements in the fields of defense and military cooperation, economy, oil and environment, nuclear power, etc.... Abu Dhabi National Oil Company (Adnoc) signed a strategic agreement with state-owned China National Offshore Oil Corporation to explore upstream as well as downstream collaboration.”
In April of this year, China signed an agreement to invest $3.4 billion into shipping and food projects in Dubai, as part of the Belt and Road Initiative. Meanwhile, in May, a Chinese conglomerate announced it was exploring a $10 billion investment in the Emirates. China’s East Hope Group conglomerate said it was working with Khalifa Industrial Zone Abu Dhabi, or Kizad, on a feasibility study for a three-phase, 15-year development at the port facility. East Hope Group is the latest Chinese firm to realize the potential of Abu Dhabi as a Middle Eastern hub and a gateway to the region, Africa and Europe.
Unwaveringly, the U.A.E. is an early customer of Huawei’s 5G network.
As a result, in 2018, trade between the two countries reached $45.9 billion, which was up by 12% from the previous year, and which is very large for such a small country.
During a written interview with Emirates News Agency on July 23, China’s Foreign Minister and State Councillor Wang Yi stated:
“Our relationship, having stood the test of the changing international situation, has become a good example of state-to-state relations and a front-runner in China’s relations with countries in the region. ... I believe as our two countries strive for substantive, steady and high-quality development of Belt and Road Cooperation, the U.A.E. will become a shining pearl along the Belt and Road.”